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FOX News
Dec 26, 2012 10:00am PST
-called fiscal cliff. they say if president obama and congress don't make a deal we will almost certainly see a recession. do you buy that, steven? >> the congressional budget office is a nonpartisan group that does this and says we will in fact have an immediate rescission. they say that we come out of a short, sharp recession stronger than we would be if we didn't go into that recession in the first place. we stop borrowing money from the future to prop us up now. we have the immediate problems but in the long term we are in gets shape. that's what they are grappling this. how do they best structure this to do the least amount of damage now but get us to the good economy in the future. >> reporter: if you look up a research paper from the president's own economist you'll find in the long run we are healthier, short run, yeah, it's painful. is that what motivates some of the republicans that, you know, what are called chuckle heads, but maybe in the end they are wisdom heads. >> that is certainly part of the motivation there. the other part of the motivation, and the republican
FOX News
Dec 31, 2012 10:00am PST
make remarks within the hour about the on going negotiations about the so-called fiscal cliff. we'll bring that live to you when it happens. sources are telling fox news that congress has figured out the tax part. the main bone of contention is at this point the spending. the white house wants new spending using tax hikes to prevent some of the severe budget cuts that also kick in in 11 hours from now. republicans argued that is just robbing pete tore pay paul. chief congressional correspondent mike emanuel is live at the capitol following all of the bouncing balls. hey, mike. >> reporter: one concern for republicans as they look at this deal is what about spending cuts? where are the spending cuts? it sounds like they are getting close in the talks between vice president joe biden and the senate republican leader mitch mcconnell but there is not a deal until senator mcconnell knows he has enough support. let's take a look at some of the key points of a framework of the deal according to sources close to the talks. it would raise taxes on income tax amounts above $400,000 for individuals, $450,000 for families. it would address the estate tax, the alternative minimum t
FOX News
Dec 27, 2012 10:00am PST
more creative and happy new year? [laughter] greg: don't send me off the fiscal cliff. heather: coming up next, milk. it could hurt your wallet after the first of the year if congress does not act fast. a little known law from the. it may having us pay double for milk after the new year. greg: an international outcry. just ahead, we will speak with ahead of the group leading the charge to free this man heather: he talks extreme weather alert for you now or are the death toll rising from a devastating winter storm system that is still slamming some parts with major snowfall. fifty people are now dead. with more than 1.5 feet of snow in parts of the northeast. a storm system that devastated the gulf coast community with rare winter tornadoes. it is expected to stop tomorrow, that is the good news. we are tracking the storm and we will bring you the latest live as it happens. greg: let's call it the milk fiscal cliff if congress doesn't take action before new year's day. the price of jury could more than doubled because of a law enacted way back in the 1940s. a reporter is live with the details. dominic? reporter: no one is doing anything about this in washington yet. a ga
FOX News
Dec 28, 2012 10:00am PST
more short-term fix to avoid the fiscal cliff that would involve helping people who are about to lose their unemployment benefits and coming up with medium ground on extending tax cuts. take a listen. >> in the next few days i've asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, protects unemployment insurance for two million americans, and lays the groundwork for further work on both growth and deficit reduction. that is an achievable goal. >> reporter: that was the president's approach one week ago today right before he left for hawaii. he obviously has come back from the vacation. we're told behind closed doors one hour from now he will push the short-term fix to the republican and democratic leaders. the pressure is on them because economists said if they don't come up with a deal we may slip into another recession. earlier today republican senator bob corker is warning look, the markets have been relatively stable during all these talks because they thought all along near the end we would get a deal. if they don't get a deal, senator corker said the markets may respond in negative way to congress kicking the can down the road. gregg: corker said the president is doing this for show
Search Results 0 to 3 of about 4